Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Asst. Commissioner of Income Tax Versus M/s Deloitte Consulting India Pvt Ltd

Computation of deduction under S.10A - Interpretation of Total Turnover - whether communication charges are to be excluded from the total turnover for the purpose of computing deduction under S.10A - Held that:- The communication charges having been excluded from the export turnover, it should also be excluded from the total turnover for the purpose of computation of deduction under S.10A of the Act. Since the view taken by the CIT(A) is in conformity with the view taken in the aforesaid decisio .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Kiran M ARs ORDER Per D Manmohan, Vice President This appeal by the Revenue is directed against the order passed by the Commissioner of Income-tax (Appeals) III, Hyderabad and it pertains to assessment year 2005-06. 2. The only issue urged by the Revenue in this appeal is with regard to computation of deduction under S.10A of the Act; whether communication charges are to be excluded from the total turnover for the purpose of computing deduction under S.10A. 3. The facts are narrated in brief. Th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

f the Act. In response thereto, the assessee submitted that the same was incurred in Indian currency and, even otherwise, if it is excluded from the export turnover, it should also be excluded from the total turnover. 4. The Assessing Officer rejected the contention of the assessee, referring to the meaning of 'export turnover' as given in Explanation 2(iv) to S.10A. The Assessing Officer concluded that the assessee incurred expenditure for delivery of goods outside India and the same de .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

hat even if it is to be deducted from the export turnover, that would not lead to any disallowance since communication charges should have been correspondingly deducted from the total turnover while computing the deduction under S.10A of the Act. The learned CIT(A) accepted the alternative contention of the assessee in the light of decision of Chennai Special Bench in the case of ITO V/s. Sak Soft Ld. CIT(A). (313 ITR (AT)353) (Chennai(SB)). 6. Aggrieved, Revenue is in appeal before us. 7. At th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version